Word: overindebtedness
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Why is that? Well, focusing on demand is a tricky thing to do. For decades, the economy's engine of demand has been American consumers - a population now overindebted, underemployed and endowed with a newfound sense of thrift. The explosion in credit-card and home-mortgage debt before the recession...
What gives with Visa? One possibility is that the company and its investment bankers are deluded and the IPO will crash and burn--but the current thinking on the Street is that it won't have trouble finding buyers. Another is that the financial types who've been crying crisis...
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